VE1N: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
VE1N
Largest movements
- Receivables within one year -€2.0m
down €2.0m (-29.1%), from €6.9m to €4.9m
of which Other amounts receivable: -€2.3m
- Deferred charges and accrued income +€146,285
up €146,285 (+88.1%), from €166,116 to €312,401
- Profit (loss) carried forward -€2.5m
down €2.5m (-350.5%), from -€717,280 to -€3.2m
- Accrued charges and deferred income +€381,538
up €381,538 (+246.8%), from €154,607 to €536,145
- Other debts +€272,084
up €272,084 (+4.1%), from €6.7m to €6.9m
- Financial charges +€2.5m
up €2.5m (+856.1%), from €294,144 to €2.8m
- Gross operating margin +€169,074
up €169,074, from -€16,212 to €152,862
- Financial income +€10,969
up €10,969 (+8.1%), from €136,066 to €147,034
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,139,732 | €5,287,448 | -€1.9m | -25.9% |
| Fixed assets | 21/28 | €100,489 | €100,152 | -€337 | -0.3% |
| Tangible fixed assets | 22/27 | €478 | €140 | -€337 | -70.6% |
| Furniture and vehicles | 24 | €478 | €140 | -€337 | -70.6% |
| Financial fixed assets | 28 | €100,012 | €100,012 | = | 0.0% |
| Current assets | 29/58 | €7,039,243 | €5,187,296 | -€1.9m | -26.3% |
| Amounts receivable within one year | 40/41 | €6,869,339 | €4,873,325 | -€2.0m | -29.1% |
| Trade receivables | 40 | €1,451,391 | €1,783,292 | +€331,901 | +22.9% |
| Other amounts receivable | 41 | €5,417,948 | €3,090,033 | -€2.3m | -43.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €3,788 | €1,570 | -€2,218 | -58.6% |
| Deferred charges and accrued income | 490/1 | €166,116 | €312,401 | +€146,285 | +88.1% |
| Total equity and liabilities | 10/49 | €7,139,732 | €5,287,448 | -€1.9m | -25.9% |
| Equity | 10/15 | €282,720 | -€2,231,039 | -€2.5m | |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€717,280 | -€3,231,039 | -€2.5m | -350.5% |
| Amounts payable | 17/49 | €6,857,012 | €7,518,486 | +€661,474 | +9.6% |
| Amounts payable within one year | 42/48 | €6,702,405 | €6,982,341 | +€279,936 | +4.2% |
| Trade debts | 44 | €29,028 | €36,879 | +€7,852 | +27.0% |
| Suppliers | 440/4 | €29,028 | €36,879 | +€7,852 | +27.0% |
| Other amounts payable | 47/48 | €6,673,378 | €6,945,462 | +€272,084 | +4.1% |
| Accrued charges and deferred income | 492/3 | €154,607 | €536,145 | +€381,538 | +246.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €337 | €337 | = | 0.0% |
| Other operating charges | 640/8 | €449 | €1,139 | +€690 | +153.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€16,212 | €152,862 | +€169,074 | |
| Operating profit (loss) | 9901 | -€16,998 | €151,386 | +€168,383 | |
| Financial income | 75/76B | €136,066 | €147,034 | +€10,969 | +8.1% |
| Recurring financial income | 75 | €136,066 | €147,034 | +€10,969 | +8.1% |
| Financial charges | 65/66B | €294,144 | €2,812,179 | +€2.5m | +856.1% |
| Recurring financial charges | 65 | €294,144 | €2,812,179 | +€2.5m | +856.1% |
| Profit (loss) for the period before taxes | 9903 | -€175,076 | -€2,513,759 | -€2.3m | -1335.8% |
| Profit (loss) for the period | 9904 | -€175,076 | -€2,513,759 | -€2.3m | -1335.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€175,076 | -€2,513,759 | -€2.3m | -1335.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.